Draftkings reports growth in Q2

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Draftkings reports growth in Q2

Draftkings has cut losses and registered growth in the second quarter of the year.

The sports betting company Draftkings has reported experiencing massive growth in its latest investor letter, published on the fifth of august. The company has registered a revenue of over 465 million dollars, which is a staggering over 50% increase from the same period of last year. The main chunk of that growth comes from the corporation’s business to customer section, which grew almost 70%. In contrast, the business to business segment took a few losses.

The customer-side business got an increase of almost 400k unique players, totaling over 1.5 million. Additionally, each customer contributed to over a hundred dollars in revenue, up from last year’s sum of about 80 dollars.

Furthermore, the bookmaker is raising its revenue guidance of the fiscal year to anywhere from 2.08 billion dollars to 2.18 billion dollars, equating to a year-over-year increase of over 60%.

To sum it up, Draftkings mentioned in the statement that they had a great quarter and surpassed the expectations of their team and their investors.